Explore BrainMass
Share

Explore BrainMass

    Building a Simple Expert System for Retirement Planning

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    When employees at a company retire, they are given cash bonuses. These cash bonuses are based on the length of employment and the retiree's age. To receive a bonus, an employee must be at least 50 years of age and have worked for the company for 5 years. The following table summarizes criteria for determining bonuses:
    Length of Employment............Bonus
    <5 years..................................No bonus
    5-10 years..............................20 percent of current annual salary
    11-15 years............................30 percent of current annual salary
    16-20 years............................40 percent of current annual salary
    21-25 years............................50 percent of current annual salary
    26 or more years...................100 percent of current annual salary

    Using this information, build an Excel spreadsheet that calculates the correct bonus when given the required information.
    -Set up spreadsheet so that users select the appropriate length of employment category from the above list.
    -Set up spreadsheet so that the user cannot edit any values except the input fields.

    Then use the "Scenario Manager" in Excel to set up the following What If Analyses:
    Name........................Age .......Length of Service........Salary
    John Smith................59...................12....................$120,000
    G.I. Jane...................42...................20....................$40,000
    Beth Goodfellow........51....................3.....................$97,000
    Stephen Graham......58....................28....................$105,000
    Kelsey Mattews.........67.....................6.....................$78,000
    The spreadsheet should include, on a separate worksheet, the Scenario Summary for these scenarios.

    © BrainMass Inc. brainmass.com May 20, 2020, 10:47 pm ad1c9bdddf
    https://brainmass.com/business/management-information-systems/building-simple-expert-system-retirement-planning-532853

    Solution Summary

    The expert builds a simple expert system for retirement planning.

    $2.19

    ADVERTISEMENT